Utz Brands (NYSE:UTZ) PT Raised to $23.00

Utz Brands (NYSE:UTZ) had its price objective increased by Stephens from $21.00 to $23.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Utz Brands from $18.00 to $21.00 and gave the stock an overweight rating in a report on Friday, March 1st. Truist Financial raised their price objective on Utz Brands from $13.00 to $17.00 and gave the company a hold rating in a research note on Monday, March 4th. Needham & Company LLC boosted their target price on Utz Brands from $20.50 to $22.00 and gave the company a buy rating in a research report on Friday. Mizuho lifted their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the stock a buy rating in a research note on Friday. Finally, DA Davidson began coverage on shares of Utz Brands in a research note on Friday, March 1st. They issued a neutral rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $20.42.

Utz Brands Stock Up 0.1 %

NYSE UTZ opened at $19.26 on Friday. Utz Brands has a 12 month low of $11.17 and a 12 month high of $20.04. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.71 billion, a PE ratio of -77.04, a P/E/G ratio of 1.32 and a beta of 0.97. The stock’s 50 day moving average is $18.02 and its 200 day moving average is $16.28.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Utz Brands will post 0.72 EPS for the current fiscal year.

Utz Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 2nd. Shareholders of record on Monday, April 15th were given a dividend of $0.059 per share. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Utz Brands’s dividend payout ratio (DPR) is -96.00%.

Insider Transactions at Utz Brands

In related news, major shareholder Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the transaction, the insider now directly owns 3,556,154 shares of the company’s stock, valued at $63,299,541.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Chinh Chu sold 92,226 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the sale, the insider now owns 3,556,154 shares of the company’s stock, valued at $63,299,541.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger K. Deromedi sold 3,785 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $19.13, for a total transaction of $72,407.05. Following the sale, the director now directly owns 3,399,470 shares of the company’s stock, valued at $65,031,861.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 675,208 shares of company stock valued at $12,039,150. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Large investors have recently made changes to their positions in the business. Gratus Capital LLC acquired a new position in Utz Brands during the 3rd quarter valued at about $6,468,000. Readystate Asset Management LP purchased a new position in shares of Utz Brands in the 4th quarter valued at approximately $7,302,000. Envestnet Asset Management Inc. boosted its stake in Utz Brands by 72.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 710,165 shares of the company’s stock worth $9,538,000 after purchasing an additional 297,395 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after purchasing an additional 250,557 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Utz Brands by 96.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 409,027 shares of the company’s stock valued at $5,493,000 after purchasing an additional 200,850 shares in the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Company Profile

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.